RESOLUTION OF THE STATE COMMITTEE OF THE REPUBLIC OF UZBEKISTAN ON MANAGEMENT OF THE STATE-OWNED PROPERTY

of August 19, 2008 No. 01/19-18/13

About approval of the National standard of assessment of property of the Republic of Uzbekistan "The general requirements imposed to internal regulations of quality control of work of appraisers"

According to the Law of the Republic of Uzbekistan "About estimative activities", resolutions of the President of the Republic of Uzbekistan of April 26, 2006 "About measures for enhancement of activities of the State Property Committee of the Republic of Uzbekistan" and of April 24, 2008 N PP-843 "About further enhancement of activities otseno increase in their responsibility for quality of the rendered services" the State committee of the Republic of Uzbekistan on management of state-owned property decides N PP-335:

1. Approve the National standard of assessment of property of the Republic of Uzbekistan "The general requirements imposed to internal regulations of quality control of work of appraisers" according to appendix.

2. This resolution becomes effective after ten days from the date of its state registration in the Ministry of Justice of the Republic of Uzbekistan.

Approved by the Resolution of the State Property Committee of August 19, 2008 No. 01/19-18/13

The national standard of assessment of property of the Republic of Uzbekistan (NSOI No. 7) the General requirements imposed to internal regulations of quality control of work of appraisers

This National standard of assessment of property (NSOI N 7) "The general requirements imposed to internal regulations of quality control of work of appraisers" according to the Law of the Republic of Uzbekistan "About estimative activities" (Sheets of Oliy Majlis of the Republic of Uzbekistan, 1999, N 9, the Art. 208), the Resolution of the President of the Republic of Uzbekistan of April 24, 2008 N PP-843 "About further enhancement of activities of the estimative organizations and increase in their responsibility for quality of the rendered services" (The collection of the legislation of the Republic of Uzbekistan, 2008, N 18, of the Art. 145) determines the general requirements imposed to internal regulations of the estimative organizations.

I. General provisions

1. The purpose of NSOI N 7 is unification of the principles and approaches of the estimative organizations to development of internal regulations, and also requirements to procedure and the organization of internal control behind their application.

2. The main objectives of NSOI N 7 are:

a) determination of the single principles of development of internal regulations of the estimative organizations;

b) establishment of mandatory requirements to the estimative organizations in case of development of internal regulations;

c) the description of procedure of internal control behind observance by appraisers and other staff of the estimative organizations of requirements of internal regulations.

3. Development and practical application of internal regulations are the compulsory provision for all estimative organizations.

4. NSOI N 7 does not set as the purpose to regulate form, content and procedure for preparation of the internal regulating documents of the estimative organizations for the questions which are going beyond professional aspects of implementation of estimative activities.

II. Appointment and principles of preparation of internal regulations of the estimative organization

5. Internal regulations of the estimative organization are understood as the documents determining the single requirements to implementation and registration of assessment accepted and approved by the estimative organization for the purpose of ensuring efficiency of implementation of estimative activities and its compliance to requirements of the legislation on estimative activities of the Republic of Uzbekistan.

6. The estimative organization shall create the packet of internal regulations reflecting it own approach to implementation of estimative activities, the constituted valuation reports and expert opinions taking into account requirements of the legislation on estimative activities.

7. Internal regulations of the estimative organizations shall contain the recommendations allowing appraisers to determine in practice accurate procedure for the actions for fulfillment of requirements of the legislation on estimative activities and to improvement of quality of assessment.

8. Internal regulations regulate activities of appraisers within this estimative organization and provide basis for settlement of the possible conflicts between employees and management of the estimative organization.

9. Application of internal regulations allows the estimative organizations to provide additional control of work of assistant estimators, appraisers and by that to increase service quality, rendered by the estimative organization.

10. Rules, the methodical developments, benefits and other documents obligatory to application in the estimative organization opening procedure of estimative activities belong to internal regulations of the estimative organization.

11. Internal regulations of the estimative organizations shall have practical benefits: they shall provide coordination and interrelation with the legislation on estimative activities of the Republic of Uzbekistan;

provide the clearness of formulations, integrity and clarity of statement;

to completely cover questions of these rules, to logically develop the stated principles and provisions;

contain identical interpretation of terms in all internal regulations.

12. Internal regulations shall represent in total the description of integrated approach of the estimative organization to the organization and process of evaluating property.

13. In case of development of the internal regulations intended for evaluating property according to international standards of assessment, the estimative organizations shall be guided by the regulations and the principles provided in international standards of assessment.

14. In the absence of standards of estimative activities in certain area of assessment of property, the disaggregated techniques and approaches to evaluating the estimative organizations in case of development of internal regulations are guided by international standards of assessment taking into account the specific features established by the legislation.

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